Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) South Korea said Monday it will hold a government-civilian meeting this week intended to explore business partnerships with Japan on information, communication and technology (ICT).

The South Korea-Japan ICT Plaza is scheduled to be held in Tokyo and Osaka from Tuesday through Friday, according to the Ministry of Science, ICT and Future Planning.

It would involve 40 South Korean firms, mostly small and medium-sized ones, and more than 100 Japanese companies including Sony Corp., Fujitsu Ltd. and NEC Corp., said the ministry.

The two sides plan to have a series of business-to-business meetings.

For South Korea, the annual event, launched in 2014, is an opportunity to connect local ICT firms with potential business partners in Japan.

Japan's ICT market is benefiting from the nation's introduction of a new social security and tax number policy, called the "My Number" system.

ICT demand is also expected to expand constantly ahead of the 2020 Tokyo Olympics.

"We plan to support South Korea's small and medium-sized ICT firms, which lack the networks to tap into overseas markets in spite of their advanced technologies, to do business abroad," a ministry official said.

Export contracts, worth a total of around US$26 billion, are expected from this week's event, he added.

lcd@yna.co.kr

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